South Korea: Palm oil, frozen sardines, and cabbage import growth rate highest

Published 2021년 3월 17일

Tridge summary

The Ministry of Food and Drug Safety in South Korea released the '2020 Food, etc. Import Trend' report, revealing a slight decrease in total imports by 0.5% from the previous year, amounting to $27.3 billion. The imported food weight also saw a decrease by 0.6%. The import of health functional foods, utensils, containers, and packaging increased due to lifestyle changes such as decreased eating out and increased delivery of food during the pandemic. Notable growth in imports included palm oil, frozen sardines, and cabbage, while imports from the United States, China, and Japan saw a decrease. The decline in imports of soybeans, corn, and barley was attributed to their low price competitiveness.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Korea Rural Newspaper Reporter Hyun-joo Joo] Last year's total imports of $27.3 billion were slightly decreased by 0.5% from the previous year, and about 1859 items showed the highest growth rate among the major items imported last year in the order of palm oil, frozen sardines, and cabbage. The Ministry of Food and Drug Safety made this announcement in the '2020 Food, etc. Import Trend' released on the 12th. According to this, imported food last year was about $27.3 billion (about 32.3 trillion won), and 18,33 million tons were imported from 166 countries. Compared to 2019, last year's import amount decreased by 0.5% and weight decreased by 0.6%. In the case of import amount, import amount of livestock and aquatic products decreased, but health functional foods, utensils, containers, and packaging increased significantly. . It was analyzed that this was due to changes in lifestyle, such as decreased eating out and increased delivery of food, while interest in health increased ...

Source: Agrinet